Dubai-based telecoms operator du, shopping malls operator Majid Al Futtaim Group (MAF) and Beam Wallet, have signed a landmark partnership aimed at creating more opportunities for consumers to earn rewards and save money.
Beam Wallet could eventually account for one in 10 transactions in the UAE, given the country's smartphone penetration rates, the group claim.
"The collaboration represents a unique approach to building digital wallet capability, for the first time, combining the consumer reach of a leading telecommunications provider, a market-dominant retailer and an already successful mobile commerce and rewards platform," the statement said.
The partnership will significantly extend the reach of Beam Wallet, an app bridging the gap between online and offline retail environments.
Beam Wallet already offers exclusive offers in more than 1,100 retail outlets in the UAE, which will extend to over 2,000 by the end of Q1 2015 through Majid Al Futtaim's portfolio of leisure and retail outlets, the statement added.
It said du's customer base will also benefit from exclusive Beam Wallet deals.
Osman Sultan, CEO, du, said: "Our ambition goes beyond providing customers with phone lines, internet and TV; we're offering digital services that add life to life and supporting the UAE leadership's vision of a Smart City. The UAE is well regarded for its retail infrastructure, with some of the most tech savvy consumers in the world - this creates the perfect environment for us to set global standards for digital shopping."
Shezan Amiji, co-founder Beam Wallet, added: "This brings together best-in-class industry players - a telco with access to a large customer base, a regional retail leader with a broad network of retail touch-points, and a digital platform that delivers a mobile commerce proposition that is equally compelling for both consumers and retailers."
Free to use and downloadable on any smartphone device running iOS or Android, Beam Wallet works over any platform, with any participating retailer, and enables consumers to make convenient and secure payments, and benefit from offers and earn rewards. Shoppers are alerted to rewards at nearby outlets which can be redeemed at point of sale when purchasing items using their phone.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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